Israel-Based PrimeSense and China-Based TechFaith Unit Sign Agreement to
Jointly Promote 3D Motion Sensing Technology, Delivery Platforms and Games
BEIJING, Jan 29, 2013
BEIJING, Jan 29, 2013 /PRNewswire/ -- China TechFaith Wireless Technology
Limited (NASDAQ: CNTF) today announced its game business unit 17FOX
(previously "17VEE") and PrimeSense Ltd., a leading Israel-based, 3D motion
sensing technology leader, have signed a cooperation agreement to jointly
promote 3D motion sensing technology, delivery platforms and games in China.
Under theterms of the agreement, 17FOX will cooperate with PrimeSense on the
development, marketing and merchandising of 3D motion sensing games and
applications in China based on PrimeSense's 3D motion sensing technologies.
The games and applications will allow gamers to play and control games using
videocamera captured body movements.
At same time, TechFaith announced that it is going to use a new company brand
and logo, "17FOX," for its game business and branded mobile phone business.
Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said,
"TechFaith's gaming unit has established itself as a leading gaming business
by leveraging motion technology online and on handsets. In evaluating the
strategic direction with the greatest potential, moving into the 3D motion
sensing market offers us a compelling opportunity to further build on our
strong carrier relationships, and our development, content, and technology
expertise. This agreement will give TechFaith's 17FOX gaming unit access to
critical, proven 3D motion sensing technology, which will give gamers new,
immersive feelings when playing games as they will no longer need to hold
hardware in their hands to control games. Our activities related to PrimeSense
will fall under our new brand and logo, '17FOX' for our game and mobile phone
businesses. We developed this to be more recognizable with partners and
consumers and to build equity through an easier to remember brand."
PrimeSense™ is the leader in Natural Interaction® and 3D sensing, enabling
devices to "see" environments and allowing Natural Interaction between people
and devices in a simple and intuitive way. PrimeSense offers affordable
solutions for consumer and commercial markets including: home computing,
interactive entertainment, consumer electronics, robotics, industrial, digital
signage, healthcare and more. PrimeSense products include the Carmine (PS
1080) and Capri System on Chip, PrimeSense 3D sensors, NITE™ middleware, and
cross-platform enabling software to make application development easy and
intuitive. PrimeSense is a privately held company headquartered in Tel Aviv,
Israel, with offices in North America, Japan, Singapore, Korea, China and
Taiwan. For more information, please visit www.primesense.com.
TechFaith (NASDAQ: CNTF) has three primary businesses. The Company is a
leading global mobile solutions provider for the global mobile handsets market
(previously called the ODP (Original Developed Product) business)). The
Company is a leading developer of specialized mobile phones for differentiated
market segments, including the rapidly growing smartphone market targeting
wireless mobile phone network operators and end users; the Company also serves
sports enthusiasts with a tailored line under the Jungle brand and the teen
market under licensed brands. Under the Company's 17FOX brand (previously
"17VEE"), the Company has built a leading intellectual property based motion
gaming business ranging from Bluetooth-enabled motion gaming controllers and
software to a planned proprietary set-top motion game box. For more
information, please visit www.techfaithwireless.com, www.17fox.cn
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident," "outlook" and
similar statements. Among other things, the business outlook and strategic and
operational plans of TechFaith and management quotations contain
forward-looking statements. TechFaith may also make written or oral
forward-looking statements in its periodic reports to the U.S. Securities and
Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to
shareholders, in press releases and other written materials and in oral
statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about
TechFaith's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number
of important factors could cause actual results to differ materially from
those contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, those risks outlined in
TechFaith's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. TechFaith does not undertake any
obligation to update any forward-looking statement, except as required under
SOURCE China TechFaith Wireless Technology Limited
Contact: Jay Ji, +86-10-5822-8390, email@example.com, or David Pasquale,
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